July 14, 2024
Oil market: Nigeria’s crude, others suffer setback on China’s negative data
BREAKING: Nigeria’s Bonny Light price hits $70.15 per barrel
– By Godswill Odiong

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By Eyo Nsima
THE prices of crudes, including Nigeria’s Bonny Light, have dropped to an average of $90 per barrel, from $100 per barrel in the global market, due to speculation driven by the negative Chinese data.

In its July 2022 economic data, obtained by The Daily, www.thedaily-ng.com, the China Central Bank, harped on the nation’s zero-Covid policy, thus dragging down property investments in July 2022.

Consequently, policy makers in China, a major importer of Nigeria’s crudes, expect the nation to miss its targeted economic growth rate in the second half of 2022.

. Details coming later

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